Barrick Gold (TSE:ABX) Receives Buy Rating from TD Cowen

Barrick Gold (TSE:ABX) (NYSE:ABX)‘s stock had its “buy” rating reissued by stock analysts at TD Cowen in a research report issued on Tuesday, Stock Target Advisor reports. They presently have a C$36.00 price target on the basic materials company’s stock. TD Cowen’s target price would indicate a potential upside of 62.31% from the company’s current price.

ABX has been the topic of several other research reports. Cibc World Mkts cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Stifel Nicolaus reduced their target price on shares of Barrick Gold from C$33.50 to C$32.00 in a research note on Monday, December 2nd. TD Securities reissued a “buy” rating and set a C$34.00 price target on shares of Barrick Gold in a research note on Wednesday, October 16th. Royal Bank of Canada raised their price objective on shares of Barrick Gold to C$21.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Sanford C. Bernstein dropped their target price on shares of Barrick Gold from C$37.00 to C$36.00 in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$30.62.

Barrick Gold Price Performance

Shares of TSE:ABX traded down C$0.08 during midday trading on Tuesday, reaching C$22.18. The company’s stock had a trading volume of 474,754 shares, compared to its average volume of 2,948,165. The business’s fifty day simple moving average is C$23.73 and its 200-day simple moving average is C$25.21. The company has a debt-to-equity ratio of 14.54, a current ratio of 3.01 and a quick ratio of 2.62. Barrick Gold has a fifty-two week low of C$18.65 and a fifty-two week high of C$29.50. The company has a market capitalization of C$38.82 billion, a P/E ratio of 18.64, a P/E/G ratio of 2.34 and a beta of 0.48.

Insider Buying and Selling

In other Barrick Gold news, Director Dennis Mark Bristow purchased 85,296 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was acquired at an average price of C$25.03 per share, with a total value of C$2,135,291.53. Also, Senior Officer Poupak Bahamin sold 2,500 shares of Barrick Gold stock in a transaction on Friday, November 29th. The stock was sold at an average price of C$24.49, for a total transaction of C$61,215.00. 0.60% of the stock is owned by corporate insiders.

Barrick Gold Company Profile

Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties in Canada and internationally. The company also explores and sells silver and energy materials. It has ownership interests in producing gold mines located in Argentina, Canada, Côte d’Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the United States.